Mozambique Mining: Xtract Resources reduces sale price of gold mine in Manica

British company Xtract Resources has reduced the sale price of a gold mine it owns the concession to in Manica, Mozambique to US$15 million, the company said in a statement on Wednesday. Advertisements

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Mozambique Gold Mining: Xtract Resources to sell mining concession in Manica

British company Xtract Resources agreed to sell a gold mine in Manica, Mozambique to Nexus Capital and to Mineral Technologies International, for US$17.5 million, the company said in a statement issued Thursday.

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Mozambique Mining: Xtract Resources raises estimates for gold deposits in Manica province

Mining company Xtract Resources has revised its estimates of the gold deposits available at a project in Manica, Mozambique, upwards by 36 percent to 1.257 million ounces, according to a statement released Wednesday.

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Mozambique Mining: Xtract Manica Gold project to produce 6.3Mt/y

Gold miner Xtract Resources has completed an in-house update on the economic metrics of the Manica project, in Mozambique, as part of the definitive feasibility study (DFS) that is being undertaken by independent consultants, as quoted by Mining Weekly.

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Africa Mining: Zimbabwe lowers royalty fees on small gold mines

Zimbabwe will reduce royalties levied on small-scale gold producers to 1% from 3% from September to boost output from the sector, Finance Minister Patrick Chinamasa said on Thursday. The Minister Chinamasa said deliveries of gold from small scale producers had increased to 3 117 kg between January and June, compared with 993 kg over the same period last year during a half-year budget presentation to parliament, 

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Africa Mining Industry: B2Gold posts record 1Q gold production in Namibia

Canada group B2Gold has posted record gold production of 115 859 oz in the first quarter, exceeding its target for the first three months ended March 31 by 754 oz and delivering 20% more gold than in the first quarter of 2014.The company, quoted by Miningweekly, has said on Friday that the increased production was primarily attributable to the successful start of production at the new Otjikoto mine, in Namibia, in February after a strong start-up…

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Africa Mining Industry: Congo’s planned mining code changes ‘too risky’: miners

The Democratic Republic of Congo’s new mining code is likely to cost the country billions in lost investment and put the sector at risk, the country’s Chamber of Mines vice-chairman and former Mines Minister Simon Tuma-Waku said on Thursday.

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OILPRICE: A Short, But Potentially Critical, Mining Change

Quick update on the developing situation in Africa’s important mining center, Burkina Faso. The new transitional government of that nation announced last week that it is making some important shifts in mining policy. Perhaps most importantly, officials said they will “review” existing mining contracts in the country. Which were signed under the previous government of president Blaise Compaore–who was deposed in a coup in October, ending his 27-year rule.

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